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TENASKA ACQUIRES CLINTON IA BIODIESEL PLANT
Apr. 1, 2015
Source: Tenaska news release
Tenaska, a leading independent energy company, announced that it has acquired the assets of Clinton County Bio Energy ("CCBE") in Clinton, Iowa from a local group of investors. Ocean Park Advisors ("OPA") acted as exclusive financial advisor to CCBE on the sale transaction.
"We are delighted with the successful closing and look forward to Tenaska continuing to serve the local and regional economy. The OPA team was instrumental in managing the sales process and soliciting interest from various parties," said Robert Holesinger of the CCBE ownership group. "We are also proud that CCBE was the first company to develop in the Lincolnway Air & Rail Park."
Financial terms of the transaction were not disclosed. The assets include a 10 MGPY biodiesel refinery in Clinton, Iowa that produces B100 quality biodiesel meeting ASTM D-6751 specifications. The plant recently installed a resin-based pretreatment system that allows the use of higher FFA feedstock such as corn oil.
Mark Fisler, Ocean Park Managing Director, commented, "This sale marks the 18th successful biofuels transaction for Ocean Park Advisors, which firmly positions the firm as a leader in renewable fuels and chemicals investment banking."
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